"The Wall Street investment giant reported that QTS, the data center developer and operator it took private in 2021, was the single largest driver of gains in the company's $1.3 trillion portfolio in 2025. The results were a clear sign that Blackstone's bets on digital infrastructure amid the artificial intelligence boom have reaped returns as other segments of its business, including real estate and private credit, have run into headwinds."
"Jon Gray, the company's president, said that investor interest in AI was a chief driver of strong inflows. The company reported $239 billion of inflows for the year, its highest total since a record year in 2021. "You have what's happening in the AI world, economy growing faster, productivity picking up, and us investing in sectors we really like," Gray said. "We think that will really get this flywheel going, which is why you hear this optimism.""
Data center investments have become the primary engine of growth for Blackstone. QTS, taken private in 2021, was the single largest driver of gains in Blackstone's $1.3 trillion portfolio in 2025. Stephen Schwarzman characterized QTS as "the world's largest data center platform." Blackstone recorded $239 billion of inflows for the year, its highest total since 2021. Its infrastructure platform grew 40% to $77 billion and raised $4 billion in the fourth quarter. Infrastructure investments returned 8.4% for the quarter and 23.5% for the year. Blackstone Real Estate Income Trust generated 8.1% returns during the year.
Read at Business Insider
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